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Dec 12, 2012
12/12
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we have a huge deficit. frankly i think ben bernanke has done very, very well stimulating the economy without government interference. i think the thing to do is go right over the fiscal cliff. you'll raise some taxes, yes, that's true, you'll cut defense and some human services. this is the only way we'll have a significant bite out of this deficit. i think the market is going to like this. they say no right now, but when they see that this government is taking on the deficit in a serious way i think they will like it >> you don't think going over the cliff is armageddon? >> this is just nonsense, absolutely not. this is a bipartisan deal that was made. now both parties are trying to welch on their commitments. i think that's a mistake. >> steve, ben bernanke said today if we do go over the fiscal cliff, even if it's for a short period of time, it's going to be very costly and they do not have the tools to basically dig us out of it. do you believe if we go over the fiscal cliff it won't be as easy as the g
we have a huge deficit. frankly i think ben bernanke has done very, very well stimulating the economy without government interference. i think the thing to do is go right over the fiscal cliff. you'll raise some taxes, yes, that's true, you'll cut defense and some human services. this is the only way we'll have a significant bite out of this deficit. i think the market is going to like this. they say no right now, but when they see that this government is taking on the deficit in a serious way...
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Feb 5, 2013
02/13
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CNBC
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eye 148
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what's a better way to reduce the deficit? >> pro-growth policies and i think we can do that through comprehensive tax return where we can lower rates, broaden the base and have a less complicated tax code and independent experts show if we can do that with spending cuts, we can create 1 million jobs in the first year. >> well, it just seems like we keep kicking the can down the road, delaying, delaying, delaying. the cbo says the automatic budget cuts would cut our gdp in half. given that, does it make you more inclined to sign on to the president's plan? >> look, house republicans passed last august a plan to change the mix of those spending cuts in the first year, and that's still out there, but what the president did, he's got his revenue at beginning of the year. more revenue will just hurt the economy. it will cost us jobs, so what we really need now is the second piece of the balanced approach the president called for in december which is the beginning of reining in our debt and deficits. again, on the president's commi
what's a better way to reduce the deficit? >> pro-growth policies and i think we can do that through comprehensive tax return where we can lower rates, broaden the base and have a less complicated tax code and independent experts show if we can do that with spending cuts, we can create 1 million jobs in the first year. >> well, it just seems like we keep kicking the can down the road, delaying, delaying, delaying. the cbo says the automatic budget cuts would cut our gdp in half....
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Mar 15, 2010
03/10
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CNBC
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eye 184
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will be resolved by the economic gain, and by definition, you will be at the widest deficit coming out of the recession, because the tax receipts from corporate payments and individual payments are at the lowest level. >> well, you know, bill, byron wien was on earlier and one of the points he was making is that at some point we have to raise interest rates, because we have to continue attracting capital to this nation. and you don't want to be doing that especially when you have a lot of other concerns to worry about. is that an issue as far as you are concerned? >> i think that play be the trigger where people start to look back at the nation's balance sheets and to expand on this a little bit, i'm not talking about just federal government debts, but talking about entire all of the debts within the country on a financial service debt, individual debt and so on. if you look at that and try to figure out, all right, say interest rates move up by 2% to 3% points, what does that mean in relation to the income statement of the nation's economy, when 66% of the debt is owned by people outs
will be resolved by the economic gain, and by definition, you will be at the widest deficit coming out of the recession, because the tax receipts from corporate payments and individual payments are at the lowest level. >> well, you know, bill, byron wien was on earlier and one of the points he was making is that at some point we have to raise interest rates, because we have to continue attracting capital to this nation. and you don't want to be doing that especially when you have a lot of...
745
745
Apr 11, 2012
04/12
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CNBC
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eye 745
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we'll first look at february's grade balance, a deficit around $52 billion. also at 8:30, initial and continuing claims. on for around $355,000 and continuing claims $3.33 million. we don't end there. we will have march ppi. look for a headline read and strip off the all important food and energy. we are up 2/10. tune in. >> i will be watching google earnings to see whether their revenue per clak held up this quarter and whether cost stayed under control. . >>> well, as the first big technology game out of the gate, google is going to report earnings tomorrow and give the sector a boost, china is focused and will release key data including gdp numbers and retail sales and industrial production. all indicators for us to understand how the soft landing is going. what does all this mean to your money? stephanie is cnbc contributor and chief investment strategist. thank you so much for joining us. good to be with you. look at the calendar first. we have the economic claims and you think china's stuff is huge. >> i do. we are trying to figure out if they are soft
we'll first look at february's grade balance, a deficit around $52 billion. also at 8:30, initial and continuing claims. on for around $355,000 and continuing claims $3.33 million. we don't end there. we will have march ppi. look for a headline read and strip off the all important food and energy. we are up 2/10. tune in. >> i will be watching google earnings to see whether their revenue per clak held up this quarter and whether cost stayed under control. . >>> well, as the first...
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May 13, 2010
05/10
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CNBC
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eye 285
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so we are able to come back out of the deficit fairly quickly. that stability in the financial government in canada and then we have a financial sector, some large financial institutions, some of the larger banks in the world are canadian. they have global exposure. they are well run and well regulated. it is not a bad sales pitch. >> some are crediting you with killing the global bank tax proposed by the imf. why do you believe such a tax would be a pressure and is not needed at this time? >> i think there is a better way of doing it. we all agree on the principle, the finance ministers and tim geithner. to the extend financial institutions cause a crisis, they should pay not taxpayers. if you tax them before a crisis happens, governments take that money, it might disappear in general revenues. the finance ministers need to find money to move toward balanced budgets. you are taking capital from banks when you want banks to lend more and have more capital. what we are suggesting is an embedded contingent capital fund, part of their reserve which
so we are able to come back out of the deficit fairly quickly. that stability in the financial government in canada and then we have a financial sector, some large financial institutions, some of the larger banks in the world are canadian. they have global exposure. they are well run and well regulated. it is not a bad sales pitch. >> some are crediting you with killing the global bank tax proposed by the imf. why do you believe such a tax would be a pressure and is not needed at this...
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Jan 13, 2010
01/10
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over the ten-year period, it is deficit neutral. >> right. >> i mean, who's kidding who. >> i don't know how trillion dollars could be deficit neutral for health care. >> well, the answer -- unfortunately -- i wish the number were only a trillion dollars. and i think the risk is dramatically greater. and i think that nobody in washington is really taking the risks involved in what they're undertaking. >> but at the end the day, they've got elections to look at. if the economy doesn't get fixed and we don't see job creation, at some point you can't say i inherited this. it has to be, well what have you done, right. >> do you think that health care mandate will increase jobs? i don't. an awful lot of small businessmen who are sitting there deciding whether they should hire another person or not are looking at some kind of a health care mandate and saying, wow, i don't want to take that on. >> right, too many uncertainties. >> yeah. >> not add heads to the payroll. i get that. >> the answer is, jobs, jobs, jobs. >> yeah. >> and at the same time, the answer is, you know the classic medi
over the ten-year period, it is deficit neutral. >> right. >> i mean, who's kidding who. >> i don't know how trillion dollars could be deficit neutral for health care. >> well, the answer -- unfortunately -- i wish the number were only a trillion dollars. and i think the risk is dramatically greater. and i think that nobody in washington is really taking the risks involved in what they're undertaking. >> but at the end the day, they've got elections to look at. if...
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May 14, 2010
05/10
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CNBC
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eye 366
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how concerned should we be about the nation's growing deficit. bill clinton gives us his take in an exclusive interview coming up. >>> an american titan versus a growth titan. google shut down its site in mainland china after standoff with the government over censorship. the move raised questions among investors, whether it was the right action by the company. i spoke exclusively this week to nick earn aurora, the company's president ever sales operations and business development about china competition and more importantly, the road ahead. >> you're running sales for a company that is obviously global, but given the fact that you're looking at such enormous growth in china, it's the large effort population out there, one of the fafrt effort-growing gdps, given its size, the withdrawal of the region has obviously caught a lot ever people by surprise, and there's a debate going on about how smart a move thanks. how do you make up that revenue, nick earn? >> i think it's important to understand what happened in china. from our perspective, we've ha
how concerned should we be about the nation's growing deficit. bill clinton gives us his take in an exclusive interview coming up. >>> an american titan versus a growth titan. google shut down its site in mainland china after standoff with the government over censorship. the move raised questions among investors, whether it was the right action by the company. i spoke exclusively this week to nick earn aurora, the company's president ever sales operations and business development about...
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230
Mar 17, 2010
03/10
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CNBC
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eye 230
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, and the amount of the gdp is huge and add in there fannie and freddie and sooner or later all deficits will be funded one way or another, and when they start to print money in here somewhere comes into it and we will get some inflation down the road there. but it won't be for a while. in this financial reform package, they took out the one thing that was going to be the behalf of all of the voters and makes me nuts. i don't know which lobby group got to the lawmakers, but there was language in market reform said they will hold stockbrokers and registered representatives and insurance agents to a fiduciary standard, if i douche jere standard saying that they, stockholderers would have to look out for the best interest of the clients. that is all it says. the lawmakers threw it out and said they don't have to do that. >> it is easy to get around, by the way. >> well, why wouldn't they say that? americans feel abused by wall street over the last crisis and bailing them out with taxpayer money, and why would elected officials not hold them to interests of those voters? >> i'm mad as hell a
, and the amount of the gdp is huge and add in there fannie and freddie and sooner or later all deficits will be funded one way or another, and when they start to print money in here somewhere comes into it and we will get some inflation down the road there. but it won't be for a while. in this financial reform package, they took out the one thing that was going to be the behalf of all of the voters and makes me nuts. i don't know which lobby group got to the lawmakers, but there was language...
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222
Apr 8, 2010
04/10
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eye 222
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spending cuts, are you pulling in -- where else are you pulling in to try to get your arms around that deficit? >> well, you know, we wanted to lead by example, and the first thing we did is that i started with asking the governor and the legislature to cut my salary which is sach toirly set, and from there, we were able to look internally at our own budget and make some changes with resources that we felt we could do more with less. and quite frankly, that is what we did, so we have scaled back in areas that we felt we could, and focus on savings. >> it is tough out there. the march jobs report obviously was surprisingly better than expect and positive showing growth, but ohio's employment rate rose 10.9% of ohio out of a job, and what are the biggest hurdles to getting job creation in your view? >> well, opening up the broader market to new technologies. one of the things we are investing deeply in is advanced energy and technology around advanced energy, so things ranging from the wind turbines to water turbines, and solar energy, and so we are really looking at the emerging markets as a wa
spending cuts, are you pulling in -- where else are you pulling in to try to get your arms around that deficit? >> well, you know, we wanted to lead by example, and the first thing we did is that i started with asking the governor and the legislature to cut my salary which is sach toirly set, and from there, we were able to look internally at our own budget and make some changes with resources that we felt we could do more with less. and quite frankly, that is what we did, so we have...
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Mar 14, 2012
03/12
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CNBC
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eye 190
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the trade deficit is getting worse. i guess my sense is the economy is improving. i welcome that. but how sustainable is it, is another question. so i still think we need to be somewhat cautious here, especially with banks. they are stronger, too. but i think in terms of the distributions, the fed and regulators need to be cautious in making sure the capital positions remain strong. >> i've got to say, the stress measures were quite stressful. 13% unemployment. >> they were very extreme, right. >> so looking at such high standards, and looking at the banks that passed those, apparently you have to feel good about where we are. but tell me what you think the stress tests told us about the banking system today. >> well, i think it told us that the banks -- most of the banks are getting stronger. i think it was very good that the fed put out a fairly detailed institution specific information. i think it's good for the market to have that information digested, analyze it, analyst investors should do their own due diligence. regulators are not infallible. i think it's very positive tha
the trade deficit is getting worse. i guess my sense is the economy is improving. i welcome that. but how sustainable is it, is another question. so i still think we need to be somewhat cautious here, especially with banks. they are stronger, too. but i think in terms of the distributions, the fed and regulators need to be cautious in making sure the capital positions remain strong. >> i've got to say, the stress measures were quite stressful. 13% unemployment. >> they were very...
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Nov 13, 2013
11/13
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CNBC
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eye 283
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i would ignore changes in the deficit. import growth, 270 -- 230 billion plus in september would support the view that the u.s. economy is improving. >> thank you so much. we will be watching all of that when we come back. stay with us. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. geothe last thing i want iswho doesnto feel like someone is giving me a sales pitch, especially when it comes to my investments. you want a broker you can trust. a lot of guys at the other firms seemed more focused on selling than their clients. that's why i stopped working at my old brokerage and became a financial consultant with charles schwab. avo: what kind o
i would ignore changes in the deficit. import growth, 270 -- 230 billion plus in september would support the view that the u.s. economy is improving. >> thank you so much. we will be watching all of that when we come back. stay with us. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick...
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290
Feb 7, 2012
02/12
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CNBC
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eye 290
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he urged lawmakers to reduce the long-term budget deficit, but to take care not to unnecessarily impede the current economic recovery. crude sweet crude climbed today. west texas crude rising after the spread between u.s. benchmark crude and north sea bre brent. gold prices snapping a two-day losing streak today. expectations that a greek rescue deal will be achieved. finishing the day at 1746 a troy ounce. eric schneiderman is expected to join a multi-state settlement over foreclosure abuses. he's planning to hold a media call tonight. the deal would force the nation's five largest mortgage lenders to cut loans for about 1 million households. so far 40 states have agreed on a nationwide settlement. the market today, up 20% or better since the october lows. today up fractionally. up 20% since the lows in october. people are once again risk averse. things have become quiet here in the u.s. with the upward movement continuing for the market. how much longer can the calm last with no volume. our next guest doesn't think the current environment can last. joining me is scott rand with wells
he urged lawmakers to reduce the long-term budget deficit, but to take care not to unnecessarily impede the current economic recovery. crude sweet crude climbed today. west texas crude rising after the spread between u.s. benchmark crude and north sea bre brent. gold prices snapping a two-day losing streak today. expectations that a greek rescue deal will be achieved. finishing the day at 1746 a troy ounce. eric schneiderman is expected to join a multi-state settlement over foreclosure abuses....
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683
Apr 15, 2010
04/10
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CNBC
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eye 683
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. >> reporter: the demand for raw materials is so strong, that china posted a trade deficit in march, the first in six years. and meanwhile, the labor shortage is on the increase, and prices rising leading to speculation about the next pay ehike which officials tried to play down last weekend. beijing is also trying to playdown moves in the currency. hu jintao said that china is sticking to the reforms of the u.n. aside from economic reforms, multinationals got a dose of this is china reality check. four of rio tinto's china executives were sentenced to prison for bribery and theft and selling commercial secrets. and they also warned of the potential of beijing's political wrath. >>> and while google shifted from the mainland to hong kong to avoid censorship which is a reminder that is an area that beijing will stand tough on. but analysts say make no more or less of the cases than necessary. they highlight china's power in business, but that is no concern. and in mining and internet sectors will spark more business in china to see more multinationals operating with greater political
. >> reporter: the demand for raw materials is so strong, that china posted a trade deficit in march, the first in six years. and meanwhile, the labor shortage is on the increase, and prices rising leading to speculation about the next pay ehike which officials tried to play down last weekend. beijing is also trying to playdown moves in the currency. hu jintao said that china is sticking to the reforms of the u.n. aside from economic reforms, multinationals got a dose of this is china...
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183
Dec 16, 2009
12/09
by
CNBC
tv
eye 183
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government in terms of the bush tax cuts expiring next year, government spending under attack because the deficit has become more of a political concern. so i actually think that complicates things for the fed but i think they are sending the right signals at least of starting to unwind the liquidity programs which they talked about in the summer and now they're starting to follow-up. if they didn't followup i think that the market would start to wonder where they're going with in. >> john, do you agree fla? >> well, i do, but thing is they're unwinding liquidity programs that have largely wound down. here's the short-term programs. and there's not much more than $30 billion on the $2.2 trillion balance sheet in those programs that are ending on february 1st. the fed, meanwhile, given's us no signal that they will exit from monetary stimulus in 2010, with the exceptionally low rates being need for an extended period and i think that the fed could talk a bit more about the dollar and the importance of the dollar. that seems the neglected part of the monetary strategy. and the problem is, so much u
government in terms of the bush tax cuts expiring next year, government spending under attack because the deficit has become more of a political concern. so i actually think that complicates things for the fed but i think they are sending the right signals at least of starting to unwind the liquidity programs which they talked about in the summer and now they're starting to follow-up. if they didn't followup i think that the market would start to wonder where they're going with in. >>...
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203
Feb 1, 2013
02/13
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CNBC
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eye 203
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we have a deficit problem that puts at risk this recovery. so, there's a lot of government action that's needed. and on that score we haven't been that productive. there's a lot of concern about the deficit, quantitative easing and whether this rally is fundamentally induced or as a result of the money that the fed has pumping into the system. >> that's been an issue, gary, as far as the federal reserve pumping money. it's all about the fed, not necessarily about fundamentals. >> right and. >> and the failed bond sale. how are you allocating money right now? >> so me and -- i and the other members of tiger, high levels of cash, less fixed income. the fear that interest rates will rise. but we're starting to allocate more to private equity and public equity with historic numbers in private equity. 20% across the board allocated to private equity where a lot of america's wealth has been built for individuals. there is a movement back towards equity. as i say, it's not a stampede. it's measured because there's still a lot of concerns about some
we have a deficit problem that puts at risk this recovery. so, there's a lot of government action that's needed. and on that score we haven't been that productive. there's a lot of concern about the deficit, quantitative easing and whether this rally is fundamentally induced or as a result of the money that the fed has pumping into the system. >> that's been an issue, gary, as far as the federal reserve pumping money. it's all about the fed, not necessarily about fundamentals. >>...
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353
Jan 28, 2010
01/10
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CNBC
tv
eye 353
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of course, the criteria is to have your deficit % of the gdp. right now you're at 13% of the gdp and you're hoping to do this by the end of 2012. is that right? >> that's right. >> how do you get there? do you need more bond sales? >> there are structural change that have to be made in the economy. the sengs system, the tax system. these are two major reforms. they will be the law of the land and they will be modernizing our economy and public sector. we have cut the public wage bill. had to terminate tens of thousands of contracts of employees in the public sector by bringing in a government which is very determined to fight corruption, to create a transparent handling and management of the money that we do have, of investing in areas which will bring growth and multiply, multiply the results. we will be, i believe, both have the stability and the strength from the greek people, but also create the credibility in the international markets. >> what's the likelihood you will be leaning on germany and partners in europe to help you get out of this
of course, the criteria is to have your deficit % of the gdp. right now you're at 13% of the gdp and you're hoping to do this by the end of 2012. is that right? >> that's right. >> how do you get there? do you need more bond sales? >> there are structural change that have to be made in the economy. the sengs system, the tax system. these are two major reforms. they will be the law of the land and they will be modernizing our economy and public sector. we have cut the public...
259
259
Mar 8, 2012
03/12
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CNBC
tv
eye 259
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at last look it was a deficit of 48.8. look for the number to be closer to 50 billion on a deficit and 49 billion expected. also at 8:30 eastern, the big february jobs report. the last look at $243,000. we are expecting that to look towards the $200,000 figure. the last look 8.3. expectations are 8.3 and of course things like participation will play active in the discussions on cnbc. last number 10:00 eastern. january wholesale inventories. higher by 1% and we are up half of 1%. tune in. >>> one of the things to watch for, a premier of a new documentary. pill poppers. they generate billions in profits, but how often do we think about the risks? we will weigh the benefits versus the price some pay for unwanted side effects. >> drug development is an ongoing clinical trial in which we all play a part. >> there is no such thing as a totally safe medicine and one we know everything about. there is uncertainty. that persists. >> because this goes to the heart of what medicines are. >> when you make a medicine, you are trying to
at last look it was a deficit of 48.8. look for the number to be closer to 50 billion on a deficit and 49 billion expected. also at 8:30 eastern, the big february jobs report. the last look at $243,000. we are expecting that to look towards the $200,000 figure. the last look 8.3. expectations are 8.3 and of course things like participation will play active in the discussions on cnbc. last number 10:00 eastern. january wholesale inventories. higher by 1% and we are up half of 1%. tune in....
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264
Mar 11, 2010
03/10
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CNBC
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eye 264
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so we're small our deficits compared to other sovereign entities. we get a bad rap, i think, because of the process. the debates that we go through every summer to pull together a two-thirds' vote to enact a state budget. so there's headline problems, not default risk for investors in california. >> okay. and you certainly do get a bad rap. i mean you heard jane say you have the worst credit rating in the country. do you deserve it? i heard you say in the past, you don't think you do. >> no, we don't. if the credit ratings are based on the likelihood of an investor losing their money, we've never defaulted on debt. we're not going to default on debt. there's $80 to $90 billion that comes in revenue every year. the debt service's about $6 billion. clearly we're going to pay that. there's a continuous appropriation to do it, regardless of legislative enactment or delay. there's constitutional guarantees for debt payment. so it's a safe investment for people. and we're getting rated badly, i think, for the wrong reasons. >> jane, go ahead. you have a q
so we're small our deficits compared to other sovereign entities. we get a bad rap, i think, because of the process. the debates that we go through every summer to pull together a two-thirds' vote to enact a state budget. so there's headline problems, not default risk for investors in california. >> okay. and you certainly do get a bad rap. i mean you heard jane say you have the worst credit rating in the country. do you deserve it? i heard you say in the past, you don't think you do....
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97
Sep 10, 2013
09/13
by
CNBC
tv
eye 97
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they have a current account deficit. they have a fiscal deficit. they are being threatened by the fed raising rates. that's one where we'll probably take our time. overall, it's big business. i think i mentioned to you earlier, if we shift to latin america, whie shift down to mexico, that's interesting. we built our our brazil presence. we have 17 offices globally now. what it's affording us the opportunity to do is look around the different regions and countries, try to find places when there is dislocation. we expect the volatility to continue. there are enough things that go bump in the night as you mentioned. we are seeing some significant opportunity. i think you'll see kkr continue to invest capital fairly aggressively in these markets. >> what about the fed? i mean, do you think the tapering begins the next meeting, september 17, does it again then? >> you never know. our base view at kkr is it would be a great opportunity for the fed to get out. they have a question and answer session. if you think about them not doing mortgage tapering the
they have a current account deficit. they have a fiscal deficit. they are being threatened by the fed raising rates. that's one where we'll probably take our time. overall, it's big business. i think i mentioned to you earlier, if we shift to latin america, whie shift down to mexico, that's interesting. we built our our brazil presence. we have 17 offices globally now. what it's affording us the opportunity to do is look around the different regions and countries, try to find places when there...
396
396
Dec 31, 2009
12/09
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CNBC
tv
eye 396
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this of course on the backdrop of a very weak economy with the budget deficit close to 10180 billion pounds. >> here is what we'll be covering in france in 2010, big deficit ahead for the government, nicolas sarkozy wants to cut the budget deficit next year, it won't be an easy task two years ahead of an election. rail market, the french are open to competition. we'll see what this means for the much coveted rail link between france and united kingdom, all these stories and much more coming up in 2010. >> hello, top stories in 2010 are very likely to be of economical issues, i.e., unemployment rate, is it going to continue to rise, and that in an environment where we tried to cut taxes, renewable energy and the shakeout in the car sector as well as in the financial sector. >> the two things i'm watching in 2010, number one, interest rates. many traders feel the direction of interest rates will have a greater influence on the stock market in 2010 than earnings do. the other most important thing -- the jobs market. the bulls are insisting we will be below 10% in the unemployment rate b
this of course on the backdrop of a very weak economy with the budget deficit close to 10180 billion pounds. >> here is what we'll be covering in france in 2010, big deficit ahead for the government, nicolas sarkozy wants to cut the budget deficit next year, it won't be an easy task two years ahead of an election. rail market, the french are open to competition. we'll see what this means for the much coveted rail link between france and united kingdom, all these stories and much more...
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106
Jun 4, 2013
06/13
by
CNBC
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eye 106
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a lower budget deficit. it's also dependent, to some extent on the negative aspects of quantitative easing, raised by esther george, raised by mr. fisher at dallas. you know, there are negative aspects in terms of the zero bound interest rates that are filtering out into the economy and stagnating, keeping growth down as opposed to raising interest rates. just to finish the thought, maria, you know, chairman bernanke and other central banks basically have been working with this model that if you raise asset prices, that, eventually, it filters down in a wealthy effect to, you know, stimulate the real economy. that really hasn't happened, as you pointed out, in terms of my outlook. 2.5% growth, you know, from trillions of dollars worth of check writing. i think it's suspect. >> yeah, actually, it's pretty extraordinary. but, i feel like bernanke's bailing out policy makers. if bernanke weren't there, we wouldn't have any stimulus, right? where's the stimulus coming from the fiscal side of things and would you
a lower budget deficit. it's also dependent, to some extent on the negative aspects of quantitative easing, raised by esther george, raised by mr. fisher at dallas. you know, there are negative aspects in terms of the zero bound interest rates that are filtering out into the economy and stagnating, keeping growth down as opposed to raising interest rates. just to finish the thought, maria, you know, chairman bernanke and other central banks basically have been working with this model that if...
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250
Feb 9, 2012
02/12
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CNBC
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our last look, we had a deficit of 47.8 billion. the biggest in months. we are expecting it to grow towards 48.5 billion. 9:55 eastern. the university of michigan. february preliminary sentiment survey. our last look was a good one at 75. it was an 11-month best. we are expecting that to move lower. tune in. >>> a big courtroom showdown in las vegas. jane? >> he cofounded wynn resorts and he sees hundreds of millions of dollars that has gone back years. robert shapiro of the o.j. simson case argues he does not have the right to sue for the information. the judge not agreeing for that and he is not agreeing that they are reasonable. hints that some may be back in court in two weeks. >> we will go back to the board of directors and consider that and the reasonableness of them and report back to the judge in two weeks as she asked us to do. >> every state recognizes the director has a right of inspection. i think that was a position of the court that was clear on today. we are pleased with that. >> what is this really about? >> that's about all i will say. >
our last look, we had a deficit of 47.8 billion. the biggest in months. we are expecting it to grow towards 48.5 billion. 9:55 eastern. the university of michigan. february preliminary sentiment survey. our last look was a good one at 75. it was an 11-month best. we are expecting that to move lower. tune in. >>> a big courtroom showdown in las vegas. jane? >> he cofounded wynn resorts and he sees hundreds of millions of dollars that has gone back years. robert shapiro of the o.j....
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Feb 2, 2010
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fund ought to go to reduce the deficit. the president says with the economy and unemployment this high it's worth the cost. >> the more loans these smaller banks provide to creditworthy small businesses the better deal we'll give them on capital from this fund that we've set up. if you combine it with my proposal to continue waiving fees and increasing guarantees for sba backed loans, that will help small businesses ensure they are the engine of job growth in america. >> reporter: republicans dispute the president's policies will have the effects he is predicting. you can bet the democrats are going to be sympathetic because they are trying to demonstrate to voters they are trying to reduce unemployment. now to steve liesman. >> reporter: forper fed chairman paul volcker defending the rule named after him. it is clear this is going to be a controversial rule as far as congress is ruled. the volcker rule will tlimt ability of banks to engage in so-called proprietary trading and own hedge fund and private equity pool. chris d
fund ought to go to reduce the deficit. the president says with the economy and unemployment this high it's worth the cost. >> the more loans these smaller banks provide to creditworthy small businesses the better deal we'll give them on capital from this fund that we've set up. if you combine it with my proposal to continue waiving fees and increasing guarantees for sba backed loans, that will help small businesses ensure they are the engine of job growth in america. >> reporter:...
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Feb 17, 2010
02/10
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, 12% of gdp budget deficit, and now they're stuck. >> right. i mean they're stuck. it is what it is. is it going to be a burden for the rest the world? >> well, you know it's not a big burden for the rest of the world. it's an enormous burden for greece if they have to handle it on their own. greece is a very small part. only about 3% of the euro zone. but in terms of having to deal with this, my sense is greece needs to reset its exchange rate so that it's got an ability to become more competitive again. >> let me ask you about the u.s. what do you think it's going to take, marty, to get job creation going in this country? >> well i -- just what i said a couple of minutes ago. if we're going to get job creation going, it's going to be because small and medium-sized businesses are going to be hiring people and they're going do that when they feel confident about the future and when they can get credit. so the two keywords are "confidence" and "credit" and this budget does not create any confidence. and the credit situation in the banks is going
, 12% of gdp budget deficit, and now they're stuck. >> right. i mean they're stuck. it is what it is. is it going to be a burden for the rest the world? >> well, you know it's not a big burden for the rest of the world. it's an enormous burden for greece if they have to handle it on their own. greece is a very small part. only about 3% of the euro zone. but in terms of having to deal with this, my sense is greece needs to reset its exchange rate so that it's got an ability to become...
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Mar 26, 2010
03/10
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worried about not just near-term supply, but also longer-term sovereign concerns, because of long-term deficits. now, yields were also rising, as you mentioned for somewhat positive reasons on the economic front that we do continue to get better data over time, and the markets are often reacting ahead of payrolls and that is one thing driving interest rates higher, setting up for the really first significant turn in payrolls that we have seen so far, and more importantly, we do think that this is a sustainable trend. >> you do? well, that is my question, because we are bumping up against 4% in some parts of the curve, and do we go significantly higher than that do you think? >> well, we do believe that the interest rates will rise gradually throughout the year, and 4% is a significant level to markets in part, because of investors having been waiting for something to do in the interest rate market. so far, we have been in pretty tight ranges. this week, one of the catalysts was negative swamp spreads on the 10-year rate, or swamp spreads on the 10-year rate, which got investors excited about so
worried about not just near-term supply, but also longer-term sovereign concerns, because of long-term deficits. now, yields were also rising, as you mentioned for somewhat positive reasons on the economic front that we do continue to get better data over time, and the markets are often reacting ahead of payrolls and that is one thing driving interest rates higher, setting up for the really first significant turn in payrolls that we have seen so far, and more importantly, we do think that this...
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May 22, 2012
05/12
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that will give people some confidence about what's going to happen to taxes and regulation and fiscal deficit. >> the fiscal cliff once again. marty, good to have you on the program. we appreciate your time as always. martin feldstein. >>> up next, she's one of the highest profile female ceos in america, ursula burns of xerox sits down for a cnbc exclusive. she offers her opinion on the facebook board not having a single female on it. >>> the bulls run out of steam. why some are worried what that may tell us about tomorrow. stay with us. ♪ why do you whisper, green grass? ♪ [ all ] shh! ♪ why tell the trees what ain't so? ♪ [ male announcer ] dow solutions use vibration reduction technology to help reduce track noise so trains move quieter through urban areas all over the world. together, the elements of science and the human element can solve anything. [ all ] shh! [ male announcer ] solutionism. the new optimism. the teacher that comes to mind for me is my high school math teacher, dr. gilmore. i mean he could teach. he was there for us, even if we needed him in college. you could c
that will give people some confidence about what's going to happen to taxes and regulation and fiscal deficit. >> the fiscal cliff once again. marty, good to have you on the program. we appreciate your time as always. martin feldstein. >>> up next, she's one of the highest profile female ceos in america, ursula burns of xerox sits down for a cnbc exclusive. she offers her opinion on the facebook board not having a single female on it. >>> the bulls run out of steam. why...
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Jan 2, 2013
01/13
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we can't keep running trillion plus dollar a year deficits indefinitely because otherwise you'll have the federal reserve balance sheet be miles bigger than the whole economy, and obviously that's not a comprehensible thing, so we really do have to deal with the spending side as well. and most of the measures that would have been dealt with in the spending, like gradually raising the age on social security with have no negative impact on the economyner team in any event. >> by the way, what do you think of today's rally, and it comes, you know, after a pretty good month of december anyway. are we fooling ourselves to see stocks go much higher here when we still have the spending part of the equation to be figured out in the next few month, or is this wall street looking past all of that and guessing that the economy will grow from here? >> well, i think there was so much anxiety built up over the cliff that almost any resolution of it would have brought a sigh of relief. also remember, this is the first part of january. a lot of institutions have an influx of new money that needs to b
we can't keep running trillion plus dollar a year deficits indefinitely because otherwise you'll have the federal reserve balance sheet be miles bigger than the whole economy, and obviously that's not a comprehensible thing, so we really do have to deal with the spending side as well. and most of the measures that would have been dealt with in the spending, like gradually raising the age on social security with have no negative impact on the economyner team in any event. >> by the way,...
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Dec 10, 2009
12/09
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as smaller trade deficit in october and better than expected jobless claims results helping the market set the tone early on. along with the falling dollar, that also helped lift stocks today sniechltd the details on the story that you first heard on the "closing bell" yesterday. citigroup may raise $10 to $15 billion. the big debate is how big that offering should be. we'll have more details a little bit later on in the program. >>> goldman sachs making some big changes to its pay practices. the firm's top executives say they will not receive cash bonus thes year. instead, they'll get stock which cannot be sold for at least five years. some limitations there. take a look at how we finished the day on wall street with the dow jones industrial average on the upside tonight. 67 points at 10404. financials, noticeably absent from the behind today. weaker, pretty much across the board. s&p 500 picking up six points and the nasdaq tonight up seven points. as we mention financial giants are topping today's business headloins. update on the story that i first told you about yesterday. citigro
as smaller trade deficit in october and better than expected jobless claims results helping the market set the tone early on. along with the falling dollar, that also helped lift stocks today sniechltd the details on the story that you first heard on the "closing bell" yesterday. citigroup may raise $10 to $15 billion. the big debate is how big that offering should be. we'll have more details a little bit later on in the program. >>> goldman sachs making some big changes to...
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Apr 5, 2012
04/12
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also, has greece managed to bulge the budget deficit? tune in to cnbc world to catch all of the action overseas. at cnbc's european headquarters, going global with your money. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. [ donovan ] i hit a wall. and i thought "i can't do this, it's just too hard." then there was a moment. when i decided to find a way to keep going. go for olympic gold and go to college too. [ male announcer ] every day we help students earn their bachelor's or master's degree for tomorrow's careers. this is your moment. let nothing stand in your way. devry university, proud to suppo
also, has greece managed to bulge the budget deficit? tune in to cnbc world to catch all of the action overseas. at cnbc's european headquarters, going global with your money. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity...
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Mar 10, 2010
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debt regardless of size of the budget deficit. therefore in exchange reserves have to be recycled so i don't think that dollar's very much at risk at all. >> okay at the end of the day we are the usa. >> and the dollar is the reserve currency. no arguing. there is no substitute on that score for the dollar anywhere in the world at the moment, not likely to be for quite a long time. >> and to add to what ron just said, we think that the allocation away from the dollar that we've seen in the last two years are actually going to shift in favor of the greenback now. >> okay i need my american flag. thanks so much, guys. appreciate it, as always. >>> taxing issues in the world of online retail. coming up the latest on a controversial move by amazon.com in one state that's creating a big stir there. raising questions about a class between politics and big business. we're going to have this for you coming up right after this. whwhh >>> welcome back, everyone. colorado, becoming the latest state to see amazon.com close up shop and pulling
debt regardless of size of the budget deficit. therefore in exchange reserves have to be recycled so i don't think that dollar's very much at risk at all. >> okay at the end of the day we are the usa. >> and the dollar is the reserve currency. no arguing. there is no substitute on that score for the dollar anywhere in the world at the moment, not likely to be for quite a long time. >> and to add to what ron just said, we think that the allocation away from the dollar that...
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Oct 1, 2012
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because it will sort of focus our priorities, getting the country's debt and deficit under control. what do you think about that? >> well, sequestration cuts the good along with the bad. not everything government does is wasteful. not everything government does is good. go after the wasteful first, go after the policies which we know don't achieve the goals they were set out to meet. we don't think sequestration -- sequestration was set up as a threat, such a horrible threat that it would force congress to act and hasn't forced congress to act yet. we hope it will in the lame duck, that they'll take thoughtful steps by going after wasteful programs first. >> you're right. it hasn't gotten them to act yet. ryan, good to talk to you. thanks so much. >> thanks so much for having us. >> see you soon. "fast money" begins at the top of the hour. >>> our traders give you the top picks for the fourth quarter. then we'll have all the headlines coming from the value investing congress. our traders will give you the trade. we'll also have the founder of 13 d monitor tell you how you could inve
because it will sort of focus our priorities, getting the country's debt and deficit under control. what do you think about that? >> well, sequestration cuts the good along with the bad. not everything government does is wasteful. not everything government does is good. go after the wasteful first, go after the policies which we know don't achieve the goals they were set out to meet. we don't think sequestration -- sequestration was set up as a threat, such a horrible threat that it would...
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May 6, 2010
05/10
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agencies will come and say, whoever wins power will lose economic power, and that is presented as the gdp deficit is 13%, and the credit rating agencies say, we will not have to downgrade you, but review the credit rating of the uk. there is a chance that even if the the torries win, and we have to get to imof the keep the current rates. and the imf, when they have a currency that is not as single, that will allow it to go down, which reinforces the dollar trade against the pound. we are not expected the euro to go dun, but the euro to drag against the pound. >> do you think that the markets trade more on the cam pin of david cameron who is campaigning on lower taxes? >> well, they could. but the downside, and i don't have a nice pop-up. here is the downside, the governor of the bank of england, what he said, he said that whoever wins power will lose economic power. why? because if you are going to basically cut taxes and cut spend i spending, what are you doing in an economy trying to come out of the recession. if you cut the oxygen, you call in the bank of england for further qe and that will r
agencies will come and say, whoever wins power will lose economic power, and that is presented as the gdp deficit is 13%, and the credit rating agencies say, we will not have to downgrade you, but review the credit rating of the uk. there is a chance that even if the the torries win, and we have to get to imof the keep the current rates. and the imf, when they have a currency that is not as single, that will allow it to go down, which reinforces the dollar trade against the pound. we are not...
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Apr 28, 2010
04/10
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economy and the spanish economic minister is calling for calm as the government moves to reduce the deficit. now n germany, chancellor merkel is calling for accelerated negotiations for a rescued plan for greece. the white house says that president obama has great concern and i quote great concern about greece's problems and is in quote close contact with european officials. we have updates right now from cnbc correspondent stationed in lisbon, berlin, and athens where we start with our own caroline shownberg. >> well, the greek banking stocks may have recovered, but that is of course, because of the temporary shorting of the stocks which was initiated this morning. despite that, wit was another strong day of opposition plans to the austerity plans. with esaw more protesters on the streets, and we saw the transportation workers going on strike today and one of many strikes that we have seen in the last couple of months here. we saw students walking down the streets with barons reading "we want the imf out" which is seen as a reaction to the cuts in public spending that the government is pro
economy and the spanish economic minister is calling for calm as the government moves to reduce the deficit. now n germany, chancellor merkel is calling for accelerated negotiations for a rescued plan for greece. the white house says that president obama has great concern and i quote great concern about greece's problems and is in quote close contact with european officials. we have updates right now from cnbc correspondent stationed in lisbon, berlin, and athens where we start with our own...
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Oct 15, 2013
10/13
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i look more at the deficit, which has shrunk dramatically. everyone talks about debt but it's debt as a percentage of gdp. it's a percentage of debt to gdp, which we need to be around 65% to be at aaa. we those make no sense. we are smarter as a country than to have plunt objects. or something like medicare. and on the flip side we will have to make sure its revenues are involved. >> do you think when revenue needs to be included how does revenue come into play? >> when we look at the deficit it's receipts versus spending. now it's close to the four. we need corporate tax reform. it's clear that we have to rid loopholes. >> do you think the president believes that? >> absolutely. the president would be for cop a rat tax form. he would be for manufacturing a better rate to get manufacturing boosted. remember, we talked about it two years ago. >> i want to show you the board here. the dow jones futures are down 113 points. it's indicating a decline of about 113 points on the dough. this is all because of the news we just got from fitch. putting
i look more at the deficit, which has shrunk dramatically. everyone talks about debt but it's debt as a percentage of gdp. it's a percentage of debt to gdp, which we need to be around 65% to be at aaa. we those make no sense. we are smarter as a country than to have plunt objects. or something like medicare. and on the flip side we will have to make sure its revenues are involved. >> do you think when revenue needs to be included how does revenue come into play? >> when we look at...
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Apr 25, 2012
04/12
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although it's important for everybody to recognize, we're going to have to act to bring our long-term deficit down and we're going to have to face our reforms so they don't damage growth and it would be a terrible mistake for us to lurch prematurely. that would undue a huge amount of the progress that we've made in repairing the crisis. it would push unemployment up and push us back into the recession. >> you're giving a speech in san francisco onç china tomorrow. you're going to beijing for the strategic economic dialogue. as you know, mitt romney, the presumptive republican nominee has said that your administration and previous administration have been played by the chinese. he will fix that, negotiate more effectively by declaring them a currency manipulate for on day one. why couldn't that be a more effective strategy. >> calling them a name, like you can solve problems in the world, by calling people names. >> tariffs would come with that name. >> no, in that strategy you would say, i would name them a manipulate for. let's look at the basic record. it's true china represents a complic
although it's important for everybody to recognize, we're going to have to act to bring our long-term deficit down and we're going to have to face our reforms so they don't damage growth and it would be a terrible mistake for us to lurch prematurely. that would undue a huge amount of the progress that we've made in repairing the crisis. it would push unemployment up and push us back into the recession. >> you're giving a speech in san francisco onç china tomorrow. you're going to...
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May 23, 2013
05/13
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the problems that we have here at home that haven't gone way, that have to do with the debt and the deficit. they're concerned about regulatory. the regulatory impact. they're concerned about the impact of the affordable care act. so they get it. i think they get it a lot more so than a typical retail investor. so what we're seeing right now on the markets, we're really not looking at this as tremendous buying opportunities. we're a little more concerned that this is the precursor to some of these more global macro issues coming to the forefront. >> so then, i guess, carrie, that you've got to believe that some of the money on the sidelines is not coming in. >> well, i don't think it's going to come into straight, long-only strategies. where we're seeing it come in and where we see high net worth individuals receptive are with these alternative type strategies that can manage risk a lot better than being long only. >> robert, do you see that as well, based on what you're looking at in terms of wealthier investors today? do they want longer and sort of a little more complicated strategies ra
the problems that we have here at home that haven't gone way, that have to do with the debt and the deficit. they're concerned about regulatory. the regulatory impact. they're concerned about the impact of the affordable care act. so they get it. i think they get it a lot more so than a typical retail investor. so what we're seeing right now on the markets, we're really not looking at this as tremendous buying opportunities. we're a little more concerned that this is the precursor to some of...
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May 3, 2010
05/10
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the problems that greece has now, if you look at the numbers in terms of the deficits and debts, it may be very familiar to u.s. investors a couple of years down the road, because the u.s. is heading very quickly in that same direction. so, focus for the longer term on those with the better balance sheets and those who are able to generate the growth domestically, and that will lead you to many of the emerging market and a handful of commodity-based countries like australia and canada and norway and chile. >> so you think that the market does react to the debt in this country, it sounds like? >> well no, question it has to. i mean, it is something that is pure math, and something that you cannot ignore. >> right. >> and at some point the debt service is going to eat up basically any growth that we are able to generate. >> thank you, gentlemen. appreciate your time tonight. see you soon. >>> up next, the lawsuits against bp are coming in and rising at a fast and furious pace. up next, we will hear from one lawyer who is leading one of the fist lawsuits leading to the disaster and find ou
the problems that greece has now, if you look at the numbers in terms of the deficits and debts, it may be very familiar to u.s. investors a couple of years down the road, because the u.s. is heading very quickly in that same direction. so, focus for the longer term on those with the better balance sheets and those who are able to generate the growth domestically, and that will lead you to many of the emerging market and a handful of commodity-based countries like australia and canada and...
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May 9, 2013
05/13
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the deficit is $200 billion below where people thought. we are not going to have a debt crisis, a debt ceiling crisis. i love what japan is doing. it's totally pro-growth. and i think there's just as good a chance that the fed will step up their purchases of bonds ass there that they'll slow it down. in other words, i don't see any shift in fed policy. add it up, you've got pullbacks, i understand that, but i think this is a cyclical, multi-year continuation of the bull market. >> jeff, what do you think? you say the rally is short lived. >> well, i don't know how short lived it is, maria, but i would say this. larry just talked about pullbacks. and we haven't had a meaningful pullback in this market in so long. it's hard to even remember when. all of the dips are being bought. this is a teflon market. it's not reacting to bad news, it's not reacting to fundamentals. i tell you, i'm out here at salt, i'm talking to guys. they love ben bernanke, because they see this being controlled almost exclusively by federal reserve policy. history tel
the deficit is $200 billion below where people thought. we are not going to have a debt crisis, a debt ceiling crisis. i love what japan is doing. it's totally pro-growth. and i think there's just as good a chance that the fed will step up their purchases of bonds ass there that they'll slow it down. in other words, i don't see any shift in fed policy. add it up, you've got pullbacks, i understand that, but i think this is a cyclical, multi-year continuation of the bull market. >> jeff,...
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Apr 3, 2012
04/12
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disguised as deficit plans and really is an attempt to impose a radical vision on our country. it's failed darwinism. >> we should point out, not one democrat voted on the president's budget plan either. >>> let's get to the top story, the massive twin twisters that caused problems. bryan norcross from the weather channel is joining us right now. what can you tell us? >> maria, we have every expectation the damage across the dallas-ft. worth metroplex is going to be widespread. we do not have any injuries or fatalities reported yet confirmed but the -- based on what we see in the pictures, it would be very surprising if this has not just been a tragic day there. widespread damage from southeast of dallas where another cell is moving over hutchins and the lancaster area where they had tremendous damage this afternoon and another cell as well moving towards dfw and the arlington area where a tornado was confirmed earlier on and we know there was damage there. from help kol ter pictures we're seeing from every corner of the middle part of the metroplex, up towards plano and extend
disguised as deficit plans and really is an attempt to impose a radical vision on our country. it's failed darwinism. >> we should point out, not one democrat voted on the president's budget plan either. >>> let's get to the top story, the massive twin twisters that caused problems. bryan norcross from the weather channel is joining us right now. what can you tell us? >> maria, we have every expectation the damage across the dallas-ft. worth metroplex is going to be...
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Mar 21, 2013
03/13
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there's no pressure, really, to balance the budget, no pressure to wind down these immense deficits, because they can be financed at about nothing. so to companies that might properly be considered bankruptcy candidates can sustain themselves and their precarious lives through borrowing at such rates. >> and that's what we continue seeing. >> this so-called recovery has been painfully and in a very un-american way drawn out, undynamic, and to people who are looking for a job, downright cool. and the fed insists that for reasons of economics as well as humanity, it will continue to do what has not worked. >> and i want to get your take on cyprus and europe, but let me put that aside for a moment. because, you know, chairman ben bernanke commented on this yesterday. someone said to him, what about the downside risk of all of this easy money. and he said, look, there are no issues of inflation. we don't have any issues in terms of, you know, this free money so far. and in fact, it's been helpful to the economy. so, what is the downside risk? how does this end? >> well, this is the great
there's no pressure, really, to balance the budget, no pressure to wind down these immense deficits, because they can be financed at about nothing. so to companies that might properly be considered bankruptcy candidates can sustain themselves and their precarious lives through borrowing at such rates. >> and that's what we continue seeing. >> this so-called recovery has been painfully and in a very un-american way drawn out, undynamic, and to people who are looking for a job,...
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Feb 21, 2013
02/13
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bring back -- we have hundreds of billions of dollars of trade deficit now on energy, we can change all that. we have bridge to a cleaner world with natural gas, which is 50% cleaner than oil. >> all i heard in davos, the whole week, was about shale. and we've done a lot about shale on this program. we've got shale rich in this country. >> right. >> so, that's about fracking. what about keystone? >> we should be doing that, too. we'd much rather buy our energy from canada than deal with all the complexities that we've been stuck in for the last 20 years with foreign oil. so, we -- technology has given us this wonderful opportunity to have low energy cost. we have to seize that, rather than keep debating and discussing and fighting over it. we've got to get this budget compromise done. >> right. everybody, whether you're an individual institution, government, needs a budget. >> yeah, absolutely. >> we haven't had one. michael, great to have you on the program. michael porter, based at harvard business school. we'll have more on hewlett-packard when we come back. stay with us. changed you
bring back -- we have hundreds of billions of dollars of trade deficit now on energy, we can change all that. we have bridge to a cleaner world with natural gas, which is 50% cleaner than oil. >> all i heard in davos, the whole week, was about shale. and we've done a lot about shale on this program. we've got shale rich in this country. >> right. >> so, that's about fracking. what about keystone? >> we should be doing that, too. we'd much rather buy our energy from...
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Nov 19, 2012
11/12
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now we say we raise the debt ceiling and deficit reductions may not occur, should not occur, in my opinion. why would you think if they set up a two-step process now that we're going to get any more out of the next two-step process than we got out of this one. >> zachary, i agree -- i think a lot of people look back on that august time period that bill is referring to and say, oh, that could happen again. but what a lot of people forget is that was the very same weekend italian yields were approaching 7%, we were live in rome at 1:00 in the morning when trichet was trying to save the world in europe. it was their lehman moment. presumably -- >> but at least they've solved the debt crisis in europe -- oh, no, wait, they haven't. >> the ecb is in a very different place than they were at the time. >> political dynamics have changed in washington. whether you like it or not, they have dramatically changed in washington. >> we had a status quo election. >> we had a election that returned more democrats in the senate, republicans lost eight seats in the house and the temperature of politics in w
now we say we raise the debt ceiling and deficit reductions may not occur, should not occur, in my opinion. why would you think if they set up a two-step process now that we're going to get any more out of the next two-step process than we got out of this one. >> zachary, i agree -- i think a lot of people look back on that august time period that bill is referring to and say, oh, that could happen again. but what a lot of people forget is that was the very same weekend italian yields...
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Feb 14, 2012
02/12
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the dow industrials recovering from a 80 point deficit this morning. closing with a gain of four points. lot of buying in the final ten minutes of trading. all the major averages popped up in the last half an hour. certainly the last ten minutes. that a key political leader is to lenders tomorrow morning. he had been opposed to the austerity agreement over the weekend. the s&p clawed back
the dow industrials recovering from a 80 point deficit this morning. closing with a gain of four points. lot of buying in the final ten minutes of trading. all the major averages popped up in the last half an hour. certainly the last ten minutes. that a key political leader is to lenders tomorrow morning. he had been opposed to the austerity agreement over the weekend. the s&p clawed back
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Jun 7, 2013
06/13
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so what you need is a long-term plan that, you know, deals with the main drivers of the deficit, like entitlement spending -- >> how come we don't that have? i mean, this is, i think at this point, even people who are not knee-deep in this, like you and me and our viewers, they get it. they know these programs have to be reformed. how come we don't have a long-term plan? what do you think? >> i have no idea. it feels like you could put a republican economist and a democratic economist together in a room, we'd have a plan in two hours. i mean, i think there's that much agreement among the experts that it is, you know, it's hard to imagine. i think the big picture is, it's what we're doing now is exactly wrong, right? the sequester is just bad cuts to government spending, too fast, too soon, replace it with something much smarter. that deals with the long-term problem. >> all right, so we all know, the other uncertainty out there, federal reserve chairman bernanke's term is up in january 2014. you want the job, christina? >> i think there are lots of great candidates out there. i certai
so what you need is a long-term plan that, you know, deals with the main drivers of the deficit, like entitlement spending -- >> how come we don't that have? i mean, this is, i think at this point, even people who are not knee-deep in this, like you and me and our viewers, they get it. they know these programs have to be reformed. how come we don't have a long-term plan? what do you think? >> i have no idea. it feels like you could put a republican economist and a democratic...
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May 1, 2013
05/13
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needed to enact deficit reduction right now and wall street, 80% said yes. now that number is fallen to 52%. those who say the u.s. should take its time is up from something like 16% to almost 40%. those are the numbers right now, and i think what's happening, maria, is the numbers aren't biting and i couldn't disagree more with larry. to me, the most important problem in this country is unemployment. the thing that most endangers our standard of living in the future is a degradation of our workforce through long-term unemployment, and i think what should be happening is both the federal reserve and the fiscal side should be doing everything in their power to attack that. >> we already have 47 -- we already have 47 job training programs in the federal government, wasting, duplication, replication. look, i'm saying all that government stimulus we poured out in 2007, 2008, 2009, 2010, none of it worked. if it worked, steve liesman wouldn't be so worried about unemployment today. but the point i want to make here is, it is the private sector that will create th
needed to enact deficit reduction right now and wall street, 80% said yes. now that number is fallen to 52%. those who say the u.s. should take its time is up from something like 16% to almost 40%. those are the numbers right now, and i think what's happening, maria, is the numbers aren't biting and i couldn't disagree more with larry. to me, the most important problem in this country is unemployment. the thing that most endangers our standard of living in the future is a degradation of our...
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Feb 11, 2010
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rate loans to the greek government and also the greek government would be forced to reduce a bunch of deficit from the current 13% of gdp to about 3% of gdp in the next three, four years. those worries presently will fade away. however, we do have longer term structural problems in southern europe. >> so what do you want to do then, as an investor, david. >> what you want to do as an investor, certain areas that are oversold such as the precious metals. weight opportunities there. the mining stocks. some the semiconductor stocks have sold off and created buying opportunities. some of the energy stocks, the oil producers, oil service stocks, some great opportunities in those areas and then few months down the road, if you see lending volume improves, some the regional banks are going to be great buying opportunities as well. >> so it sounds like you think that we'll see a pretty good year then in 2010? >> i think that it's going to be a volatile year. i think that we're going to worry all year, volatility will stay all year, however i think that we'll be trending higher ultimately because equi
rate loans to the greek government and also the greek government would be forced to reduce a bunch of deficit from the current 13% of gdp to about 3% of gdp in the next three, four years. those worries presently will fade away. however, we do have longer term structural problems in southern europe. >> so what do you want to do then, as an investor, david. >> what you want to do as an investor, certain areas that are oversold such as the precious metals. weight opportunities there....
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Oct 25, 2013
10/13
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that's bringing growth down 1 .5%, where it would be more beneficial to the economy to do longer term deficit reductions and then you have stuff not getting.com done, immigration reform, corporate tax reform. i'd say washington haven't quite killed the economy but it's worse than it should be. >> what's your reaction? >> i yield to no one in arguing, yes, ben is 100% right. of course, congress has been extremely destructive to the economy, whether it's fiscal drag or uncertainty lurching from crisis to crisis. that said, once you take the bar down really far you might be able to get over it. taking off from where john harwood was a second ago. i do see a small deal possibly in the making that revolves replacing some 2014 sequester cuts in ways that would diminish some of that fiscal drag and help the economy in 2014 and offsetting costs with back-loaded cuts of the type john mentioned. >> how far does the bar have to go for obama care exchanges which are having real difficulties right now? ben said those could be contributing to the economic lag. >> i'm skeptical on the obama care -- first of
that's bringing growth down 1 .5%, where it would be more beneficial to the economy to do longer term deficit reductions and then you have stuff not getting.com done, immigration reform, corporate tax reform. i'd say washington haven't quite killed the economy but it's worse than it should be. >> what's your reaction? >> i yield to no one in arguing, yes, ben is 100% right. of course, congress has been extremely destructive to the economy, whether it's fiscal drag or uncertainty...
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Jan 4, 2010
01/10
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the legacy of that downturn, are big deficits, a lot of debt. we've never had that much before. and an orchhang of joblessness and probably a slow growing economy but companies in my view will actually make a fair amount of profits. >> yeah, talking of the overhang of joblessness of course the big payrolls data coming out at the end the week. do you think it is still fair to say that we're in a jobless recovery. >> i do. we think we'll be up about 20,000 jobs, and remember as we move towards april and may, we will add census workers so we're going to get more positive months than negative months now in nonfarm payroll but joblessness refers to not a lot of jobs. and in the past two post recessions after '90, '91 and 2001, we went many months with low positive growth in jobs. that's what we mean by joblessness. and i think we'll get positive numbers but they'll be low for a long time. >> what kind of policies do you think that are not actually being deployed that should be deployed to try to stimulate more jobs? >> you know i would have prefer to see under the fiscal side a mix o
the legacy of that downturn, are big deficits, a lot of debt. we've never had that much before. and an orchhang of joblessness and probably a slow growing economy but companies in my view will actually make a fair amount of profits. >> yeah, talking of the overhang of joblessness of course the big payrolls data coming out at the end the week. do you think it is still fair to say that we're in a jobless recovery. >> i do. we think we'll be up about 20,000 jobs, and remember as we...